Lazard seeks to reduce Aussies’ overexposure to domestic market
Lazard Asset Management's new Global Equity Franchise Fund aims to provide Australian investors with an opportunity to diversify their holdings away from domestic equities.
The fund, launched last week, will provide investors with capital growth through investments in a range of listed companies that Lazard believe have a stable history and strong earnings forcastability.
Lazard Global Equities Franchise Fund portfolio manager, Warryn Robertson, said the fund would be measured against the MSCI World Index, and will be managed by the team behind the group's Global Listed Infrastructure Equity Fund, which has delivered a 10.97 per cent return, annualised since its inception.
"We believe many Australian investors are over exposed to the risks in the Australian economy and equity market," Robertson said.
"This fund is designed for Australian investors who wish to diversify their portfolio into global equities, but do so through what we believe is a lower risk option.
"We aim to reduce the uncertainty in global equity markets by only investing in companies that have historically shown higher revenue certainty. For us this predictability means they are easier to forecast and therefore less likely to produce the negative shocks that diminish shareholder value."
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